The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-08
THE BUSINESS OUTLOOK.
The New Year Starts with Higher Prices
Apprehensions That Inspire Caution.

New YORK. Jan. 7.-R G. Dun & Co. furnish
the following weekly review Of trade:
The new year opens with higher prices Wheat
has advanced II cent this week. on sales of
%. 900. 600 bushels OH has advanced cent,
on sales Of 10000, 600 barrels. Cotton rises
LILO cent, with moderate transactions. Coffee,
iron and silver are higher. Corn and oats have
been little weaker, and large realizing by for
egners has checked the tendency to advance in
stocks. But the expansion OF currency and in
vestment of large dividends received and profits
realized tend to lift prices for the present, in
spite of fears regarding legislation. Since Aug
the Treasury has added SO. 497, 088 to the gold
certificates outstanding and 500, 6S2, 626 to the
to the standard silver dollar. Bank crcnla-
ton has decreased $1,000, 461, and the
legal tenders not in the Treasury have dimn-
ished over 81 per cent, not counting the addi-
ton to gold in circulation. Following an ex-
pansion Of about $500. 000, 900 since 1873, this
makes the circulation per capita the largest ever
recorded. 1t is now to be noticed that silver dol
lars begin to 60 back to the Treasury place OF
small certificates issued, and the government,
during the past week, has taken in as much
money as it has paid out, in spite of half-yearly
interest payments. Combination at Washing
ton makes reduction of the revenue at this sos
| sion improbable. and the accumulation of sur
| plus threatens disturbance after July l.
| Over eight Thousand miles of railroad were
built last year, 500 in the Eastern ard South
eastern States, and over four thousand miles in
| Texas. Hence the rise in iron; Pittsburg prices
| advanced 81 on Wednesday, though the pro-
duction exceeds half :. million tons every
month. The associations official report makes
the output 2,950,000 tons for the last half OF
/ 1886. This powerful impulse toward prosperity,
| merchants fear, would be taken away If the
interstate commerce bill should discourage rail-
road building. In business circles the appre-
/ hension of setback as q consequence of high
| through rates for Western products, and an
arrest Of railroad building. strongly influence
calculations for the future. The failure of a
large cattle raising company illustrated a recent
/ suggestion TO the evils OF overproduction and
control of transportation lines In the Southwest
! failures have been unusually numerous. in
| other sections not more than might be
| expected for the first week Of the year. Collec
tons are generally satisfactory, and the increas
| ing number Of buyers give greater activity
| here in the dry goods trade. Coal advances be
| cause of an important strike of handlers
Boston shipments of boots and shoes for 1885,
were 2.875,316 cases, against 2,678. 364 in 1885
! Wool sales at Philadelphia were $4,000, 00t
| pounds less than in 1885. but New York imports
| of foreign wool were $1,000 900 pounds larger
| Higher prices here for wheat and cotton also i'm
| ply belief that production will be curtailed mex
! year, as result of unsatisfactory returns t
farmers. Railroad earnings in December OF
| twenty zone roads exceeded those of 1855 b.
| about l3 per cent, and bank exchanges for tn
| year show larger transactions than ever, excent
ing in parts of the South Blu
Chicago Railway Age exceeded in 1873
| those OF any previous year, includin
fortyfve roads, with 1878 0oo 600 of stock an
bonds. The late decision of an Ohio court in
validating the first mortgage on the Nickel-plat
road is used to ex cite the distrust of foreign in
vesters. apparently with some effect
Foreign exchange has advanced. and ship
ments of gold hither suspended. Coorad
reports its output of precious metals 81, 294. So
greater in 1856 than in 1885,
The failures during the last seven days mum
Der, for the United States, 27l for Canada, q
total, 299, against 273 last week, and 263 tn
week previous The increase arises in tn
South, where the failures are EXCEPTIONAL
numerous, though not important
Estimates for the year OF the production of pie
iron are as follows: Charcoal iron, ALB, l29 gros
tons anthracite iron, 1880. us; bituminous iror
1891, 375; total. 1894 GLIB gross tons, being Iii
tie more than 1900 900 tons more than last year
an increase of 33 per cent.